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The Angra nuclear power station, where Brazil is hoping to complete a third reactor. Photo courtesy Eletronuclear. Brazil has approved a business model to complete the Angra-3 nuclear power plant, with or without a partner joining Eletronuclear, the Eletrobras subsidiary that operates the country’s nuclear reactors, Reuters reported.

The business model is said to have been approved on Wednesday, although there has been no official confirmation. Reuters said was devised by major lender, state development bank BNDES, and requires a private partner to share the financial burden, the report said.

Eletronuclear president Leonam Guimaraes said last month that Brazil wanted to find a partner by 2023 to help finish and operate Angra-3, with companies in China, Russia, France and South Korea among possible candidates. He said lower demand for electricity and a fall in the value of the Brazilian real during the coronavirus crisis could push completion of Angra-3 into 2027,

Construction of the 1,245-MW Siemens/KWU pressurised water reactor unit began in 1984 but was halted in 1986 because of a lack of financing. In 2010, a construction permit was reissued by the authorities, but the project was suspended again in 2015 because of financing concerns and corruption investigation proceedings.

According to Eletrobras Eletronuclear, almost 47% of civil work at the site had been completed in 2014. So far, 9 billion reals ($1.6 bn) has been spent on the project, Reuters reported.

Brazil has two operational nuclear plants, Angra-1 and Angra-2, which provide around 2.7% of its electricity production.

Date: Friday, 12 June 2020
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